Cash ISAs: The Best Currently Available List

csw5780

duckson said:

Does anyone know if the Chip Cash ISA allows for a direct monthly payment via Standing Order or similar or is funding only a manual operation?

Do you get an actual account number and sort code?

 Yes but only from your “linked account”.  They use a customer account reference like a building society. 

MeteredOut

You can transfer in, but only from your linked bank account. You are given a account number, sort code and reference number to use, so I suspect its not a unique account for each customer, but the reference number that dictates where the money goes.

winkowinko

Do easy access ISA's traditionally pay more than 1 year fixed?

I've generally tended to lock away for another year every time one matures, but with EA ISA's currently paying 0.5% more than the best 1 year fix, it's got me wondering whether it's best to just have the money in the top EA paying ISA instead?

Appreciate the EA is a variable rate, so it's impossible to predict which one will pay you more over 1 year, but wondered if there is some kind of historical trend?

surreysaver

winkowinko said:

Do easy access ISA's traditionally pay more than 1 year fixed?

I've generally tended to lock away for another year every time one matures, but with EA ISA's currently paying 0.5% more than the best 1 year fix, it's got me wondering whether it's best to just have the money in the top EA paying ISA instead?

Appreciate the EA is a variable rate, so it's impossible to predict which one will pay you more over 1 year, but wondered if there is some kind of historical trend?

The fact that fixed rates currently pay less than easy access, is it reflects the fact that interest rates are expected to go down.
It's up to you whether you think they will go down or not. You could transfer 50% of your ISA into a fixed rate to protect yourself either way.
If you don't do anything, you'll kick yourself if rates go down. If you transfer all into a fixed rate, you'll kick yourself if they don't go down

badger09

surreysaver said:

winkowinko said:

Do easy access ISA's traditionally pay more than 1 year fixed?

I've generally tended to lock away for another year every time one matures, but with EA ISA's currently paying 0.5% more than the best 1 year fix, it's got me wondering whether it's best to just have the money in the top EA paying ISA instead?

Appreciate the EA is a variable rate, so it's impossible to predict which one will pay you more over 1 year, but wondered if there is some kind of historical trend?

The fact that fixed rates currently pay less than easy access, is it reflects the fact that interest rates are expected to go down.
It's up to you whether you think they will go down or not. You could transfer 50% of your ISA into a fixed rate to protect yourself either way.
If you don't do anything, you'll kick yourself if rates go down. If you transfer all into a fixed rate, you'll kick yourself if they don't go down

Or, rather than suffer self inflicted bruising, you might just shrug. You made the decision you thought best at the time. You win some, you lose some. 

A 50% split might ease any regrets though. 

pecunianonolet

Chip EA ISA

Looking for experiences transferring a Chip ISA out. Subscriptions have been made to 3 different ISA's this tax year and sums to each noted down to avoid accidental oversubscription. Chip ISA is now fully funded with the allowed maximum that can be contributed. 

The question is now to either leave the funds with Chip and accept the lower rate, compared to Trading212,  but at the benefit of instant access and very easy operation in the app or move funds to Trading to have everything consolidated. 

A base rate reduction on 7th November is rather certain (unless the 30th October budget causes mayhem) so Chip being a tracker means the rate will drop the same day vs Trading having been holding usually a bit longer or not passing on the full reduction. 

If I remember, Chip doesn't do partial transfers so I guess the ISA would be closed and I wonder if I could just open a new account after the transfer, just without any funding?

flaneurs_lobster

pecunianonolet said:

Chip EA ISA

If I remember, Chip doesn't do partial transfers so I guess the ISA would be closed and I wonder if I could just open a new account after the transfer, just without any funding?

Unless it has changed the rules recently, Chip do not allow another cash ISA to be opened (this year?) if one has been closed. 

qbadger

https://intercom.help/get-chip/en/articles/8856781-the-chip-cash-isa-faqs#h_becdada0f9

Please note that when transferring your cash ISA out of Chip, your Chip Cash ISA will automatically be closed once the transfer is complete and you won't be able to open another Chip Cash ISA in the future once it's closed. 

pecunianonolet

qbadger said:

https://intercom.help/get-chip/en/articles/8856781-the-chip-cash-isa-faqs#h_becdada0f9

Please note that when transferring your cash ISA out of Chip, your Chip Cash ISA will automatically be closed once the transfer is complete and you won't be able to open another Chip Cash ISA in the future once it's closed. 

They don't specify if this is indefinite that you can't open a new ISA or just applies for the current tax year. The latter I could understand, the former would be rather ridiculous. 

masonic

pecunianonolet said:

qbadger said:

https://intercom.help/get-chip/en/articles/8856781-the-chip-cash-isa-faqs#h_becdada0f9

Please note that when transferring your cash ISA out of Chip, your Chip Cash ISA will automatically be closed once the transfer is complete and you won't be able to open another Chip Cash ISA in the future once it's closed. 

They don't specify if this is indefinite that you can't open a new ISA or just applies for the current tax year. The latter I could understand, the former would be rather ridiculous. 

IIRC, it doesn't just apply to their ISA. They are not alone in not letting previous customers back.